{"id":173493,"date":"2024-02-02T02:22:00","date_gmt":"2024-02-02T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173493"},"modified":"2024-02-02T08:50:22","modified_gmt":"2024-02-02T13:50:22","slug":"tech-talk-for-friday-february-2nd-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/02\/tech-talk-for-friday-february-2nd-2024\/","title":{"rendered":"Tech Talk for Friday February 2nd 2024"},"content":{"rendered":"

Pre-opening Comments for Friday February 2nd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 8 points at 8:35 AM EST.<\/em><\/p>\n

Index futures dropped 20 points following release of the January Employment Report at 8:30 AM EST.<\/b> Consensus for January Non-farm Payrolls was 185,000 versus upwardly revised 333,000 in December. Actual was 355,000. Consensus for the January Unemployment Rate was unchanged from December at 3.7%. Actual was unchanged at 3.7%. Consensus for January Average Hourly Earnings was an increase of 0.3% versus a gain of 0.4% in December. Actual was an increase of 0.6%. On a year-over year basis, consensus was 4.1%. Actual was 4.5%.<\/em><\/p>\n

Meta Platforms<\/b> advanced $56.02 to $450.80 after reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Apple<\/b> dropped $6.59 to $180.27 after reporting lower than consensus revenues from Chinese operations.<\/em><\/p>\n

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Amazon <\/b>advanced $11.89 to $171.17 after reporting higher than consensus fourth quarter revenues.<\/em><\/p>\n

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Sketchers<\/b> dropped $7.35 to $56.25 after reporting less than consensus fourth quarter revenues.<\/em><\/p>\n

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 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Healthcare<\/b> SPDRs $XLV moved above $141.56 to an all-time high extending an intermediate uptrend<\/p>\n

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Industrial SPDRs<\/b> $XLI moved above $114.40 to an all-time high extending an intermediate uptrend. <\/p>\n

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Major Bank SPDRs<\/b> $KBE moved below $43.32 completing a double top pattern.<\/p>\n

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Regional Banking SPDRs<\/b> $KRE moved below $48.43 completing a double top pattern.<\/p>\n

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MetLife <\/b>$MET an S&P 100 stock moved below $67.21 and $64.97 setting an intermediate downtrend. <\/p>\n

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<\/b><\/p>\n

Honeywell<\/b> $HON an S&P 100 stock moved below $196.00 completing a double top pattern<\/p>\n

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Uranium ETF<\/b> $URA moved above US$32.00 to an all-time high extending an intermediate uptrend.<\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for Feb.1st<\/sup> 2024<\/p>\n

\"clip_image009\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for Feb.1st<\/sup> 2024<\/p>\n

\"clip_image011\"<\/a><\/b><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

<\/em><\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for Feb.1st<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Betting Against the Fed is RISKY! : David Keller and Tony Dwyer<\/b><\/p>\n

Betting Against the Fed is RISKY! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What Happens If META, AMZN and AAPL Disappoint? Tom Bowley<\/b><\/p>\n

What Happens If META, AMZN and AAPL Disappoint? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Charts Say Make or Break Moment for Big Tech: Carter Worth<\/b><\/p>\n

Charts Say Make or Break Moment for Big Tech \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Prepare For The Market’s Downward Shift: John Kosar<\/b><\/p>\n

Prepare For The Market’s Downward Shift \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer recovered 7.00 to 73.00. It remains Overbought.<\/p>\n

\"clip_image015\"<\/a><\/p>\n

The long term Barometer added 5.00 to 76.60. It remains Overbought.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer added 4.11 to 67.56. It remains Overbought.<\/p>\n

\"clip_image017\"<\/a><\/p>\n

The long term Barometer added 4.00 to 64.89. It remains Overbought.<\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Friday February 2nd U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points at 8:35 AM EST. Index futures dropped 20 points following release of the January Employment Report at 8:30 AM EST. Consensus for January Non-farm Payrolls was 185,000 versus upwardly revised 333,000 in December. Actual […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-173493","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=173493"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173493\/revisions"}],"predecessor-version":[{"id":173503,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173493\/revisions\/173503"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}